CFX, the native token of the Conflux blockchain, known as China's MATIC, diverged positively from the market today and is bullish.
Behind this rise was the news of the partnership between China Telecom, China's second largest telecom provider, and Conflux Network.
In fact, China Telecom partnered with Conflux Network in mid-February, and it was stated that within the scope of this partnership, blockchain-enabled SIM cards (BSIM) would be developed.
Now, blockchain-enabled SIM cards, which are stated to be released in February, have been introduced and CFX is on the rise.
At the launch of the BSIM card, Conflux Network's CTO and Co-Founder Dr. Wu Ming made the following statements:
“From now on, all mobile communication users can achieve a more secure digital identity through mobile terminals and access Web3 and Metaverse with minimal technical barriers.
Blockchain technology has gone beyond its reputation as a complex and inaccessible concept to become a truly practical infrastructure for applications in the global economy and people's daily lives."
It was stated that the BSIM card, which was introduced at its launch in Shanghai, will undergo pilot tests in Hong Kong before being rolled out in mainland China and overseas markets.
CFX is up over 2,000% since the start of 2023, currently at $0.3108, up 1,300%.
After the launch of the new BSIM cards, CFX, which increased by 15% to $ 0.33, could not maintain this level.
What is Blockchain SIM?
The BSIM card is a world first, a mobile user ID card based on blockchain technology.
It is stated that the BSIM card, which has almost the same appearance as traditional SIM cards, will be compatible with mobile systems such as Android and iOS.
In addition, BSIM has 10-20 times more storage space and several dozen times more computing power than traditional SIM cards.
*Not investment advice.